Walter Investment Management Corp. (WAC) Sees Unusually-High Trading Volume
Walter Investment Management Corp. (NYSE:WAC) shares saw an uptick in trading volume on Friday . 323,975 shares changed hands during trading, an increase of 51% from the previous session’s volume of 214,155 shares.The stock last traded at $2.41 and had previously closed at $2.27.
Several brokerages have recently weighed in on WAC. Compass Point lowered their target price on Walter Investment Management Corp. from $6.00 to $2.50 and set a “sell” rating for the company in a research note on Wednesday, May 4th. Zacks Investment Research upgraded Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. FBR & Co lowered their target price on Walter Investment Management Corp. from $7.00 to $3.00 and set an “underperform” rating for the company in a research note on Wednesday, May 4th. Finally, Wunderlich upgraded Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $6.90.
The company has a 50-day moving average price of $2.90 and a 200-day moving average price of $5.92. The stock’s market capitalization is $84.35 million.
A hedge fund recently raised its stake in Walter Investment Management Corp. stock. Bank of Montreal Can raised its stake in shares of Walter Investment Management Corp. (NYSE:WAC) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,247 shares of the company’s stock after buying an additional 347 shares during the period. Bank of Montreal Can owned about 0.20% of Walter Investment Management Corp. worth $1,099,000 as of its most recent filing with the SEC.
Walter Investment Management Corp. is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. The Company operates through three segments: Servicing, Originations and Reverse Mortgage. The Servicing segment consists of operations that perform servicing for third-party credit owners of mortgage loans, as well as its own mortgage loan portfolio.
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